Category: Manager Commentary

Approximately every quarter we release a commentary that is created by our managers. We invite you to review the most current commentary available, as well as the featured news items we have collected.

The markets have been concerned about a trade war with China and tariffs put on goods of other U.S. trading partners. The fear is real for China as it has so much exposure, also for German auto makers. The U.S. trade deficit with China was $375 billion in 2017. Please click the link below to…

As of July 6, 2018, the PVG Loss Averse Equity Income strategy is up approximately 3.0% for the year and up 4.4% for the second quarter. The current dividend yield is 4.9%, consistent with our long-term goal of a 4% to 6% dividend yield. The current Beta is only .40 relative to the S&P 500….

This week Barron’s magazine had an interesting article saying the bull market would end by 2020 as the Federal Reserve increases interest rates, while also reducing their balance sheet of bonds from $4.5 trillion to $2.5 trillion. Our investors know that this is our biggest concern, along with a slowing trend in earnings growth in…

This week we thought we would review the pluses and minuses of the market as we are approaching the half way point of the year. On the positive side, the economy is very strong, earnings growth is strong, valuations in some sectors of the stock market are attractive (value stocks are a value), companies have…

The trade war surprisingly took a turn for the worse as China had agreed to buy an additional $70 billion of U.S. products, obviously not enough, but we were surprised a counter offer was not made from the U.S. Apparently the opening offer was too low. Please click the link below to continue reading: Market…

The PVG Tactical Total Return is performing very well, up 6.63% Net of Fees as of 6/11/18 versus the S&P 500 up 4.96%. The strategy holds a diversified portfolio comprised of the S&P 500, the NASDAQ, small cap stocks through the Russell 2000, the international markets through the EAFA Index and finally a 9% tranche…

The PVG Loss Averse Equity Income strategy is performing well, with the strategy up about 3.9% for the quarter as of 6/12/18. This compares very favorably relative to the bond market or other conservative income-oriented strategies. Please click the link below to continue reading: PVG – Equity Income Monthly Update (June 2018)

The Federal Reserve meets this week and it is widely expected they will raise rates by .25%, or to a level of 2% for the Federal Funds rate. The average of all the Federal Reserve director’s expectations for interest rates is currently 2.1% for 2018, 2.9% in 2019, and 3.4% in 2020. Please click the…

Below is a familiar chart for our readers, the S&P 500 with a declining triangle where the market has broken through to the upside, as we expected, and is now up to a familiar resistance of the upper Bollinger Band. Please click the link below to continue reading: Market in a Minute 2018-06-05

Below is a chart of the Italy 10 Year Bond Yield, it is like we are in the midst of the Greece financial crisis. The yield has shot up to 3.16% very quickly. Italy has failed to form a government… European countries have odd elections. A new election will occur later this year. There is…